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OYO to raise fresh round of funds

OYO has two options for raising funds

According to the Economic Times, OYO is in talks with two consortiums - namely, a combination of SoftBank Vision Fund and co-working giant WeWork, and a set of US-based strategic investors in the travel space.

It's unclear which option OYO will go for.

However, it's worth noting that SoftBank already has a 45% stake in OYO, and might be the more preferred option.

SoftBank might indeed be the preferred option - of late, SoftBank CEO Masayoshi Son has heaped praise on OYO, its founder Ritesh Agarwal, and its management, describing the budget hotel network as a "next-generation hotel company" that is undertaking "the most advanced hotel management" globally.

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Valuation

OYO has been taking steady steps towards the unicorn club

Previously, OYO was valued at $850mn when it raised $260mn in a funding round led by SoftBank in September last year.

The new funding, if it happens, will be a major step for OYO as it moves towards the status of a 'unicorn', i.e. a start-up with a valuation of $1bn or more.

A $4bn+ valuation would also put OYO among India's most-valued start-ups.